Published on : Aug 06, 2019
Albany, New York, August 6, 2019: The gemstone market is expanding at a steady pace, and managed to witness sales worth ~US$ 22Bn in 2018 owing to the increasing lucrativeness of lab-grown diamonds among millennial and the Gen Z. The trend of lab-grown diamonds will continue to pick pace owing to its shorter production process than those of natural ones.
The rapidly expanding diamond mining and exploration industry is also multiplying the growth avenues of the gemstones market. The year 2017 saw a considerable surge in the number of diamond mining companies, proving a favorable year for the industry and witnessed improvement in every segment of the value chain. This scenario, as a whole positively influenced the retail sales of diamond jewelry, which in turn further strengthened the growth prospects of the market. The analysis showed that ~85% gains remained concentrated in the sales of jewelry and ornaments, wherein the traction for gemstone-studded rings outpaced rest.
The global gemstones market has been witnessing partial consolidation with leading and fast-growing companies collectively holding half of the market share. With gemstone mining companies increasingly focusing on mining and exploration of gemstones, specifically diamond, the lucrativeness of the gemstones market is likely to grow in the years to come.
A large number of market players have placed their focus on strategic approaches, such as M&A, formation of joint ventures, acquisition of new mines, development and expansion of the lifespan of old mines, among others. This falls in line with the intensifying competition in the market, in view of which companies are making every potential effort to move ahead of the competition curve. Geographical as well as production expansion have emerges as some of the key developmental strategies of gemstones market players over the recent years. Additionally, customization of gems and jewelry is also garnering limelight as a game changing strategy in the gemstones market, as companies shift their focus on customer-taste specific designs and offerings.
All the above mentioned dynamics and trends have been taken from the report titled “Gemstones Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2026,” which has been added recently in the extensive repository of the Market Research Hub (MRH). The gemstones market is envisaged to witness notable growth through 2026, with North America, which holds ~36% market value share, likely to maintain its lead throughout the study period. Escalating demand for gemstones in North America can be attributed to the growing diamond jewelry sale in the US market.
Gemstones Market: Report Scope
The report offers a detailed study of the gemstones market for the duration 2013 and 2026. All key trends and developments that are shaping the growth of the gemstones market have been analyzed in the report. A bifurcated analysis on the gemstones market is mentioned in the report to help the readers get an overall idea about the historical as well as future development prospects of the gemstones market.
An easy to understand and comprehensive view on value-based progress of the gemstones market has been given for diverse regions, such as North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Key trends that are impacting at different regional levels have been provided in the report. A country- wise projection has been given for all regions evaluated in this systematic research study.
This report also mentions the competitive landscape of the gemstones market, wherein the analysts sheds light on the profiles of the leading companies operating in the gemstones market along with their winning strategies aimed at pushing sales.
Gemstones Market: Research Methodology
The analysts have leveraged a comprehensive and promising research methodology, which includes detailed and exhaustive primary and secondary researches. The dynamics mentioned in the study have gone through multiple validation tunnels before getting published in the report to ensure the authenticity of the overall market research report.
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